Treasuries drop as US jobless rate hits 4.3% in Jan

US unemployment rate 4.3%: what changed in January 2026

Based on data from the Bureau of Labor Statistics, the U.S. unemployment rate fell to 4.3% in January 2026, below what many forecasters expected, as reported by Reuters. The headline decline points to labor-market stability even as other indicators show mixed momentum.

As reported by USA Today, U.S. employers added 130,000 jobs in January, and the agency revised several prior months of payroll data. Together, the latest print and revisions suggest a cooler hiring backdrop than earlier snapshots implied.

As per the Economic Times, the national hiring rate fell to 3.3%, near a 13-year low and matching 2020 crisis levels. The combination of a lower jobless rate and a subdued hiring pace underscores how different labor metrics can move in opposite directions month to month.

How 4.3% jobless rate shapes Fed rate-cut expectations

Following its January meeting, the Federal Open Market Committee held interest rates steady and noted signs of stabilization in unemployment, as reported by spokesman.com. With recent job gains described as low, policymakers are signaling a cautious approach as they weigh progress toward their inflation goal alongside employment trends.

As reported by the Financial Times, markets pared back expectations for aggressive rate cuts after the jobless rate fell to 4.3%, reading the data as evidence of more resilience than anticipated. “The labor market is showing signs of stability … [the] jobless rate decline supported a more cautious approach to interest rate policy,” said Jerome Powell, Chair of the Federal Reserve.

January 2026 jobs report: data snapshot and context

According to the Associated Press, analysts at Capital Economics said that sizable downward revisions are seriously altering the picture of recent job growth, suggesting 2025 job creation could have been far weaker once adjustments are incorporated. That perspective helps reconcile why the unemployment rate can fall even as payroll gains and hiring rates remain comparatively soft.

At the time of this writing, Coinbase Global, Inc. (COIN) traded near $161.04, up about 10% intraday, based on Nasdaq real-time price data. These figures provide market context and are subject to change.